http://condolawguru.com/2010/07/patience-and-pragmative-behaviors-pay-off-in-hoas/ Condo Law & HOA Law for Boards & Owners Sat, 21 Jan 2012 02:20:31 +0000 hourly 1 http://wordpress.org/?v=3.2 http://condolawguru.com/2010/07/patience-and-pragmative-behaviors-pay-off-in-hoas/comment-page-1/#comment-682 Beth Grimm Tue, 27 Jul 2010 18:13:17 +0000 http://condolawguru.com/?p=319#comment-682 I believe that using the name of a trust for holding property has become quite commonplace because of families attempting to avoid inheritance taxes by effecting the pass of real property on to their children or heirs through a trust. Of course, there may be scammers among the bunch too. I believe that the individual trust owner(s) - the Trustor(s) - and possibly the Trustee if the Trustors have passed could be held liable/responsible for any claims that could be made against the trust as the owner of the property, and any individual who engages in illegal activity, whether trying to hide behind a trust or other kind of entity can be held responsible (criminally or personally) for their activities. Of course, for homeowner associations it becomes more of a challenge to get to someone and hold them accountable when trying to collect delinquent assessments on property held in a trust, but it's not impossible to get to the right people. I believe that using the name of a trust for holding property has become quite commonplace because of families attempting to avoid inheritance taxes by effecting the pass of real property on to their children or heirs through a trust. Of course, there may be scammers among the bunch too. I believe that the individual trust owner(s) – the Trustor(s) – and possibly the Trustee if the Trustors have passed could be held liable/responsible for any claims that could be made against the trust as the owner of the property, and any individual who engages in illegal activity, whether trying to hide behind a trust or other kind of entity can be held responsible (criminally or personally) for their activities. Of course, for homeowner associations it becomes more of a challenge to get to someone and hold them accountable when trying to collect delinquent assessments on property held in a trust, but it’s not impossible to get to the right people.

]]> http://condolawguru.com/2010/07/patience-and-pragmative-behaviors-pay-off-in-hoas/comment-page-1/#comment-674 JAMES LENNOX Sat, 24 Jul 2010 16:26:39 +0000 http://condolawguru.com/?p=319#comment-674 Please address the legal situation regarding homeowners whom have placed the property in a Trust and then named themselves as trustee vs homeowner. The problem is they now act as if they are untouchable legally as their major asset, many do not have any mortgage and the property title is held in the trust's name of course. It appears, in some cases, that this is their major asset (approx $500k) Some are or were board members and officers and manage in any way they want to with impunity so it appears. This cannot be common situation or is it? I believe they can be still held liable for their illegal actions, personally. Please comment Please address the legal situation regarding homeowners whom have placed the property in a Trust and then named themselves as trustee vs homeowner.
The problem is they now act as if they are untouchable legally as their major asset, many do not have any mortgage and the property title is held in the trust’s name of course.
It appears, in some cases, that this is their major asset (approx $500k)
Some are or were board members and officers and manage in any way they want to with impunity so it appears.
This cannot be common situation or is it?
I believe they can be still held liable for their illegal actions, personally. Please comment

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